Govt launches auction process for 41 coal blocks for commercial mining

Prime Minister Shri Narendra Modi launched the auction process of 41 coal blocks for commercial mining through video conference. It was part of the series of announcements made by the Government of India, under the AatmaNirbhar Bharat Abhiyan.

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Key-Points

The Coal Ministry in association with FICCI launched the process for auction of these coal mines.

A two-stage e-auction is being adopted for the allocation of mines.

This auction process marks the beginning of the opening of Indian coal sector for commercial mining. It will enable the country to achieve self-sufficiency in meeting its energy needs and boost industrial development.

He stressed the irony that India, with the world’s fourth largest coal reserve and being the second largest producer, is also the second largest coal importer.

The government has set a target to gasify around 100 million tonnes of coal by 2030 and four projects have been identified, in which ₹20,000 crore will be invested.